The Wall Street Journal has reported G8 Education's (ASX: GEM) capital raising which is to be used to fund acquistions. The raising was conducted by Petra Capital and Canaccord Genuity, allowing the company to acquire 29 childcare and education centres which will increase annual earnings by over $10 million. The senior unsecured note offering was oversubscribed and raised $A70 million for the company. The Australian childcare sector has been popular with corporate activity of late. Last month, the second largest operator of childcare centres, Guardian Early Learning Group was acquired by Navis Capital in a deal worth $A120 million.
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